My lease is up end of this month on my 2007 TT. I am debating if I should buy the car or give it back. The problem is the Porsche is not doing anything on the payoff amount and getting into a new one is pretty expensive. Payoff is 79K, so by the time you factor in taxes and etc. its almost 90k!. Any ideas?

 

how does it become 90k with taxes???

 

I would just move on.

 

Don't pay the dealer twice on one car. Buy a CPO or get a new one. I would grab a CPO..great deals out there.

 

I agree with the above posters. Walk away.

 

A lot depends on the car, options, use/etc, usually not a good deal. However, exceptions exist. A lot depends how your deal is structured, dealer relationship, etc. When my c4s lease ended in 06, the dealer really tried to get me back into it, with a significant discount from the RV, but I had turbo fever by then, car ended up at auction for 38k (RV was 45k, offered to me at 38k). I think, sometimes, dealers opt to buy certain cars from PFS with the intent of reselling it to the same or other favored customers.

 

Theres certainly "some" value to buying ur own car off lease. Nevertheless the deal would have to be close to market values otherwise turn it in.

Ken

 

i would certainly agree with looking around for a cpo car unless you love yours

 

Thats what I was thinking. Why buy a CPO when you can buy your own car? You know where the car has been. Like you said if I can't get it close to market value than it doesn't make sense. Thanks for everyone's input, I really appreciate it. I will keep everyone updated on what I decide to do.

 

I don't know what ur budget is, but there are some good deals on low mileage .2 GT3's. Heck u had ur fun with a boosted car...now try a NA 3.8!!! GL on whatever u choose.

Ken

 

$90k?! Walk away and buy it from them in a month for 70... or less.

 

If you don't buy the car at the end of the lease, you just rented for 3 years and pissed your money away. A used car that is not yours is not worth what yours is worth .

J

 

And if he bought it for $150,000 three years ago and sells it now for $70,000 with some time and effort, he is in the same place as the "pissed away" lease payments.

I would pay a premium for his own off lease car then another car that you never really know the history on. Also, when you go to sell it a few years down the road, its still a 1 owner car so your might get back some premium

 

I think you should let the car go back to the dealer and if you want to buy it back talk to your sales advisor or sales manager and let them know you would buy it back for a certain price with a CPO. If they want your business they will work with you, it may cost a little more but you know the car and get the longer warrentee! Good Luck.

 

There is an upside to buying out your lease, it's the only used car that you know. Plus, if you ran it through your biz, it's like a perk, almost like buying it for 1/2 price.
I would certainly ask the dealer to work with you behind the scenes if you decide to go that route. But, like I said, generally it's not a good move financially.